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L.F. Wade International Airport Redevelopment

St. George’s, Bermuda

Aecon is working with the Canadian Commercial Corporation (CCC), the Government of Bermuda, and Bermudians to develop, finance, design, build, operate and maintain Bermuda’s new world-class airport. The Public-Private Partnership (P3) project calls for the construction of a new, larger, state-of-the-art airport terminal while operating and improving traffic flow throughout the existing terminal, as well as the renovation of existing facilities and provision of new retail spaces. The ultimate goal of this signature redevelopment project is to transform Bermuda’s aviation infrastructure and airport service offering, and to increase the airport’s overall capacity for international flights. This will, in turn, dramatically enhance the country’s tourism opportunities.

CLIENT
Government of Bermuda

CAPITAL VALUE
US $290 million

START DATE
March 2017

ESTIMATED COMPLETION
2020

banner-April-Bermuda-1

30K
SIZE OF NEW TERMINAL AREA

225
CONSTRUCTION EMPLOYEES ON-SITE AT PEAK

60%
OF CONSTRUCTION WORKFORCE IS BERMUDIAN

90%
OF SKYPORT’S WORKFORCE IS BERMUDIAN

The project is being implemented under a framework agreement between the Government of Bermuda and the CCC. Commercially, it is being delivered using the P3 business model. Aecon is the private sector partner and is responsible for the project’s development, financing, and long-term operation and maintenance. CCC will deliver a new world-class airport terminal and associated infrastructure under a fixed price, date guaranteed design and construction contract.

Before the project began, Aecon launched Bermuda Skyport Corporation Limited – a special purpose Bermudian company wholly owned by Aecon Concessions – to manage and coordinate the overall delivery of the project, and to operate and maintain the airport until 2047. Since its launch in March 2017, Skyport has assumed all existing airport operations, maintenance and commercial functions.

When the project reached financial close in March 2017, the entity formerly known as DAO ceased operations, and the majority of its staff accepted employment with Skyport. The Government of Bermuda introduced the Bermuda Airport Authority (BAA) to oversee Skyport’s operation of the existing airport and overall performance under the agreement. By taking over a publicly-managed asset that was previously run by government agency DAO, Aecon Concessions took on the responsibility of overseeing an existing team of experienced (and former) DAO managers and staff, bolstered by new hires, to increase and improve the existing airport’s operations.

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